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Paypal
Lettingissues77
Posts: 58 Forumite
Hi,
I have begun the process of missing payments (I am planning a self managed DMP.) I had my first payment for PayPal default 03.03, and I have had a message today to say the debt has been passed to Westcot. I am surprised it has happened so quickly, and looking at threads on here PayPal seems to be a bit different to other lenders. I’m assuming I just ignore them until I have a default on my credit account. Like any other debt? Has anyone had any experiences with PayPal credit and what should I expect?
I have begun the process of missing payments (I am planning a self managed DMP.) I had my first payment for PayPal default 03.03, and I have had a message today to say the debt has been passed to Westcot. I am surprised it has happened so quickly, and looking at threads on here PayPal seems to be a bit different to other lenders. I’m assuming I just ignore them until I have a default on my credit account. Like any other debt? Has anyone had any experiences with PayPal credit and what should I expect?
Thanks
0
Comments
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Since PayPal became FCA regulated last year, they have mostly fallen into line along with most other lenders collection strategy.
They prefer to use Wescott as a collection agent, they may not send a default notice, so keep checking credit files, other than that not a lot else differs.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter1
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